1.0Verbank Advisors & Agriculturehttps://verbank.luverbankfarmshttps://verbank.lu/author/verbankfarms/rich600338<blockquote class="wp-embedded-content"><a href="https://verbank.lu/us-brazil-financial-news-1-29/">US + Brazil Financial News (1/29)</a></blockquote> <script type='text/javascript'> <!--//--><![CDATA[//><!-- /*! This file is auto-generated */ !function(c,d){"use strict";var e=!1,n=!1;if(d.querySelector)if(c.addEventListener)e=!0;if(c.wp=c.wp||{},!c.wp.receiveEmbedMessage)if(c.wp.receiveEmbedMessage=function(e){var t=e.data;if(t)if(t.secret||t.message||t.value)if(!/[^a-zA-Z0-9]/.test(t.secret)){for(var r,a,i,s=d.querySelectorAll('iframe[data-secret="'+t.secret+'"]'),n=d.querySelectorAll('blockquote[data-secret="'+t.secret+'"]'),o=0;o<n.length;o++)n[o].style.display="none";for(o=0;o<s.length;o++)if(r=s[o],e.source===r.contentWindow){if(r.removeAttribute("style"),"height"===t.message){if(1e3<(i=parseInt(t.value,10)))i=1e3;else if(~~i<200)i=200;r.height=i}if("link"===t.message)if(a=d.createElement("a"),i=d.createElement("a"),a.href=r.getAttribute("src"),i.href=t.value,i.host===a.host)if(d.activeElement===r)c.top.location.href=t.value}}},e)c.addEventListener("message",c.wp.receiveEmbedMessage,!1),d.addEventListener("DOMContentLoaded",t,!1),c.addEventListener("load",t,!1);function t(){if(!n){n=!0;for(var e,t,r=-1!==navigator.appVersion.indexOf("MSIE 10"),a=!!navigator.userAgent.match(/Trident.*rv:11\./),i=d.querySelectorAll("iframe.wp-embedded-content"),s=0;s<i.length;s++){if(!(e=i[s]).getAttribute("data-secret"))t=Math.random().toString(36).substr(2,10),e.src+="#?secret="+t,e.setAttribute("data-secret",t);if(r||a)(t=e.cloneNode(!0)).removeAttribute("security"),e.parentNode.replaceChild(t,e)}}}}(window,document); //--><!]]> </script><iframe sandbox="allow-scripts" security="restricted" src="https://verbank.lu/us-brazil-financial-news-1-29/embed/" width="600" height="338" title="“US + Brazil Financial News (1/29)” — Verbank Advisors & Agriculture" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe>UNITED STATES   The week is rich in new data about the economy: Personal income and spending; Employment costs, productivity and unit labor costs; Capital goods orders and shipments; Manufacturing and Consumer sentiment; last but not least, the January Non-Farm Payrolls. All expectations are positive. And this is important for the other key event of the week: the FOMC meeting on Wednesday. It is Janet Yellen’s last. She hands the Committee over to Jerome Powell, and her departure is a loss. The transition increases policy uncertainty, but all that is known about Powell suggests that he will continue with what is by now a well-trodden and researched path: A steady climb in the policy rate (100bp in 2018) with continued divestiture of balance sheet assets at a pre-announced pace. The concern is as much about future threats to stability (with inflation, admittedly, still below target but financial conditions expanding into “exuberant” territory) as it is to normalize the system, hopefully well ahead of the next cycle of policy stimulus. For it is apparent that the economy is at near full-potential, and the next leg of the cycle is down, not up. Meanwhile, the concerns imposed by low rates—and the threat of […]